Commodity Watch: Copper futures rebound on firm spot demand
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New Delhi: Copper prices on Tuesday rose 0.44 per cent to Rs724 per kilogram in the futures market on the back of higher spot demand. On the Multi Commodity Exchange (MCX), copper contracts for delivery in December traded higher by Rs3.20 or 0.44 per cent at Rs724 per kg in a business turnover of 3,613 lots. Analysts attributed the rise in copper prices to the raising of bets by participants.
Aluminium futures remain flat
Aluminium prices remained flat at Rs204.80 per kg amid a constant demand from participants.
On the Multi Commodity Exchange, aluminium for delivery in December remained flat at Rs204.80 per kg in 2.283 lots. Analysts said participants maintained their positions at existing levels.
Cottonseed oil futures decline
Cottonseed oil cake prices fell Rs6 to Rs2,789 per quintal in futures trade as participants reduced their bets following weak trends in spot markets. On the National Commodity and Derivatives Exchange (NCDEX), cottonseed oil cake for December delivery decreased Rs6 or 0.22 per cent to Rs2,789 per quintal with an open interest of 4,600 lots. Analysts said a sell-off by participants at existing levels amid a subdued trend in the market mainly weighed on cottonseed oil cake prices.
Coriander futures fall
Coriander prices eased Rs20 to Rs7,334 per quintal in futures trade as speculators reduced their positions amid a weak demand in the spot market. On NCDEX, coriander contracts for December delivery declined Rs20 or 0.27 per cent to Rs7,334 per quintal in 425 lots. Market analysts said subdued demand in the spot market mainly led to the decline in coriander prices here.
